Speech #1010044290

The amendment we are offering strengthens such efforts to reach out to rural America. The amendment adds an additional 2.000 visasto create at least 20.000 new jobs in rural or depressed areas. In addition. the other 4.800 visas could also be used by investors in rural areas. The amended investor provision could therefore be used to create at least 68.000 jobsmany of them in rural America. And the investors cannot just promise to create jobsthey must deliver. They will be subject to deportation if they do not continue to meet the jobcreation requirements at the 2year review. No doubt. some will argue that we should not be increasing a category that only benefits "fat cats." First. let me say that the investor visas are a worthwhile addition to our immigration system. Second. I am certain that none of the Americans who gain jobs from this provision will begrudge investors their visas. In fact. many other countries have similar provisions in their immigration laws. In the past we. too. have had this type of provision in U.S. law. and even today the United States grants temporary visas to aliens who invest at least $150.000 and employ at least one worker. We have seen the success of this provision with nonimmigrants. and extending this provision to the jobcreating portion of the Immigration Act of 1988 will benefit us all. In any event. even with the GrammBoschwitz amendment. investor visas will total less than 2 percent of total immigration. Less than 2 percent. Over 98 percent of immigrants will continue to be admitted on the basis of family connections or special skills. Mr. President. this bill is not intended to solve all the problems facing rural America. but it is a step in the right direction. Part of the rationale of the Immigration Act of 1989 is to make immigration more responsive to our broad national interests. Rural America absolutely must be included within that national interest. I see no reason to shut out willing investors while our small towns and inner cities across America are facing hard times. Indeed. the national interest Is well served by granting a limited number of visas to aliens who wish to make a substantial contribution to our economy. Our amendment maintains investor visas at a modest levelbut makes a special effort to reach out to rural communities in need. At a time when we are concerned about supporting the current economic expansion. our amendment could create up to 20.000 new Jobs in the United States each year. I urge my colleagues to support this amendment.